Royal Bank Of Canada (NYSE:RY) Announces Quarterly Earnings Results

Key Points

• Royal Bank of Canada reported quarterly earnings of $2.79 per share, surpassing estimates by $0.48.
• The bank announced a quarterly dividend of $1.54, representing a 4.5% yield which is an increase from the previous dividend of $1.12.
• Institutional investors and hedge funds are increasingly investing in Royal Bank of Canada, with notable increases in holdings by firms like Smartleaf Asset Management and Brighton Jones.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY posted its quarterly earnings results on Wednesday. The financial services provider reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.43, Zacks reports. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. During the same period in the prior year, the business earned $3.26 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis.

Royal Bank Of Canada Stock Performance

Shares of RY traded down $0.43 on Friday, reaching $145.42. 858,667 shares of the company's stock traded hands, compared to its average volume of 1,155,505. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market cap of $204.35 billion, a PE ratio of 15.36, a PEG ratio of 1.65 and a beta of 0.89. The stock's 50 day simple moving average is $133.28 and its two-hundred day simple moving average is $124.12. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $147.64.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RY shares. Cowen reaffirmed a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday. National Bankshares reaffirmed a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Finally, Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $177.50.

Institutional Trading of Royal Bank Of Canada

A number of institutional investors and hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co increased its position in shares of Royal Bank Of Canada by 6.9% during the second quarter. CANADA LIFE ASSURANCE Co now owns 1,155,876 shares of the financial services provider's stock valued at $151,964,000 after acquiring an additional 75,058 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Royal Bank Of Canada by 0.9% during the second quarter. Raymond James Financial Inc. now owns 509,237 shares of the financial services provider's stock valued at $66,990,000 after acquiring an additional 4,430 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Royal Bank Of Canada by 48.2% during the second quarter. BNP Paribas Financial Markets now owns 132,399 shares of the financial services provider's stock valued at $17,417,000 after acquiring an additional 43,043 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Royal Bank Of Canada by 39.8% during the second quarter. Captrust Financial Advisors now owns 126,342 shares of the financial services provider's stock valued at $16,620,000 after acquiring an additional 35,940 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Royal Bank Of Canada by 15.5% during the second quarter. Quantinno Capital Management LP now owns 81,998 shares of the financial services provider's stock valued at $10,787,000 after acquiring an additional 11,008 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

About Royal Bank Of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.